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Context Capital Management

Context Capital Management Portfolio holdings

AUM $4.89B Turnover 25.15%
1-Year Est. Return 1.86%
 

Context Capital Management is an alternative asset manager that runs hedged funds built mainly around convertible bonds. Its main strategies are convertible arbitrage, capital structure arbitrage and event-driven trading. Michael Rosen and William Fertig co-founded the firm. Rosen co-owned a mutual fund company that specialized in convertible securities, and in 1990 Fertig led McMahan Securities into brokering convertible and derivative securities. Charles Carnegie, its chief investment officer, first worked at the firm from 2005 to 2008 and returned in 2015 as portfolio manager. Its funds are open to high net worth individuals, corporations and other institutions.

This Fund
S&P 500
This Quarter Est. Return
+0.01%
1 Year Est. Return
+1.86%
3 Year Est. Return
+3.83%
5 Year Est. Return
+14.73%
10 Year Est. Return
+43.24%
AUM
$86.1M
AUM Growth
+$5.63M
Cap. Flow
-$55.8M
Cap. Flow %
-64.78%
Top 10 Hldgs %
62.91%
Holding
44
New
1
Increased
1
Reduced
4
Closed
8
Avg Time Held
0.7 years
Top 10 Avg Time Held
0.4 years
Top 20 Avg Time Held
0.5 years
Name Market Value Portfolio Weight Shares or Principal Change
in Stake
Capital Flow Held Since
VTI icon
1
Vanguard Morningstar Total Stock Market ETF
VTI
$694B
$2.04M 2.37%
19,000
+5,000
+36% +$530K
2016 Q1
1 quarter
SPY icon
2
State Street SPDR S&P 500 ETF Trust
SPY
$806B
$1.57M 1.83%
7,500
– –
2016 Q1
1 quarter
KLREU
3
DELISTED
KLR Energy Acquisition Corp.
KLREU
$806K 0.94%
79,472
-10,000
-11% -$101K
2016 Q1
1 quarter
AAPL icon
4
Apple
AAPL
$5.17T
$564K 0.66%
23,600
-16,400
-41% -$408K
2016 Q1
1 quarter
IBB icon
5
iShares Biotechnology ETF
IBB
$11.4B
$515K 0.6%
+6,000
New +$538K
2016 Q2
0 quarters
STEW icon
6
SRH Total Return Fund
STEW
$1.82B
$189K 0.22%
23,278
– –
2015 Q1
5 quarters
BLW icon
7
BlackRock Limited Duration Income Trust
BLW
$456M
– –
-12,097
Closed -$179K –
NXRT icon
8
NexPoint Residential Trust
NXRT
$394M
– –
-6,519
Closed -$85K –
RVT icon
9
Royce Value Trust
RVT
$2.15B
– –
-10,000
Closed -$117K –
RPT.PRD icon
10
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
– –
-43,556
Closed -$2.84M –
FCSC
11
DELISTED
Fibrocell Science Inc.
FCSC
– –
-1,020
Closed -$38K –
FTRPR
12
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
– –
-3,766
Closed -$392K –
YHOO
13
DELISTED
Yahoo Inc
YHOO
– –
-16,000
Closed -$588K –
GGAC
14
DELISTED
GARNERO GROUP ACQUISITION CO SHS
GGAC
– –
-197,500
Closed -$1.96M –

Similar funds

Context Capital Management's Q2 2016 Portfolio in Review

As of Q2 2016, Context Capital Management held 44 positions worth $86.1M, up 7% from $80.4M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Context Capital Management withdrew a net $55.8M in Q2 2016, closing 8 positions and reducing 4 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $2.84M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, up from 98% a quarter earlier, followed by Technology and Energy.

Against the trend, Context Capital Management opened a new position in iShares Biotechnology ETF worth $515K.

  • Context Capital Management's largest Q2 2016 buy was iShares Biotechnology ETF: 6,000 shares worth $515K.
  • Context Capital Management added most to Vanguard Morningstar Total Stock Market ETF in Q2 2016, an estimated $530K increase.
  • Context Capital Management's biggest Q2 2016 reduction was Apple, cutting an estimated $408K.
  • Context Capital Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q2 2016, selling an estimated $2.84M.
  • Context Capital Management's ten largest holdings make up 63% of its $86.1M portfolio in Q2 2016.
  • Context Capital Management opened 1 new position and closed 8 in Q2 2016.
  • Context Capital Management's portfolio value rose 7% quarter-over-quarter to $86.1M.

Based on Context Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.